Can You Sell a Home if You’re Behind on Your Mortgage?

If you’re behind on mortgage payments and don’t see a way out, you might be thinking about selling your home.
But can you sell a home if you’re behind on mortgage payments?
Here’s what you need to know.

As long as your lender hasn’t foreclosed on your mortgage, you can probably sell it – even if you’re behind on your payments. Foreclosure starts after you actually miss mortgage payments, and if your house is being foreclosed, the lender will definitely let you know.
However, you need to know whether your house is worth more or less than what you owe on it. If you’re not underwater (meaning that your home is worth more than what you owe on your mortgage), you can probably sell the house and use the profits you earn to repay your loan.
However, if your house is worth less than what you owe, you’ll probably have to sell your home as a short sale so you can avoid foreclosure.
Your real estate agent can answer case-specific questions for you. No two transactions are exactly the same, and your situation may be different for various reasons.

Are You Selling or Buying a Home in Aspen?

If you’re ready to sell your home in Aspen, Woody Creek, Basalt, Carbondale or Snowmass, we may be able to help you.
Get in touch with us right now to find out how much your home is worth – and discover how we’ll be able to help you sell it quickly and for top dollar.
If you’re also looking for a home for sale in Aspen or a nearby community, check out our listings by price: